Proportion of junior executives leaving large manufacturing

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Reference no: EM13337887

1. The proportion of junior executives leaving large manufacturing companies within three years is to be estimatedwithin 3 percent. The 0.95 degree of confidence is to beused. A study conducted several years ago revealed that the percent of junior executives leaving within three years was21. To update this study, the files of how many junior executives should be studied?

a. 594, (b) 612, (c) 709or (d) 897

2. A bank wishes to estimate the mean balances owed by customers holding MasterCard. The population standarddeviation is estimated to be $300. If a 98 percent confidence level is used and an inteerval of $75 is desired, how many cardholders should be sampled?

(a) 44 (b) 212 (c) 629or (d) 87

3. A local retail company wants to estimate the meanamount spent. Their budget limits the number of surveys to225. What is their maximum error of the estimate mean amount spent for a 99% level of confidence and an estimated standard deviation of $10.00?

(a) $10 (b) $1.00 (c) 1% or (d)$1.72

Reference no: EM13337887

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